Deal conducted by Aegis slated to fund general corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 15 - AspenBio Pharma, Inc. said it priced a $3.1 million public offering of stock with a $464,940 greenshoe. The offering was announced Wednesday.
The company will sell 1,476,000 common shares at $2.10 per share. The price per share reflects a 14.63% discount to the Nov. 14 closing share price of $2.46.
Settlement is expected Nov. 20.
Aegis Capital Corp. is the sole bookrunning manager.
Proceeds will be used for general corporate purposes, including a clinical trial for the company's blood-based appendicitis test and working capital.
AspenBio is a biopharmaceutical company based in Castle Rock, Colo.
| Issuer: | AspenBio Pharma, Inc.
|
| Issue: | Common stock
|
| Amount: | $3,099,600
|
| Greenshoe: | $464,940
|
| Shares: | 1,476,000
|
| Price: | $2.10
|
| Warrants: | No
|
| Bookrunner: | Aegis Capital Corp.
|
| Announcement date: | Nov. 14
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 20
|
| Stock symbol: | Nasdaq: APPY
|
| Stock price: | $2.46 at close Nov. 14
|
| Market capitalization: | $16.2 million
|
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